The global industrial robotics Industry was estimated at USD 25.68
billion in 2013 and is expected to reach USD 40.00 billion by 2020 owing to
increased number of deployments in the manufacturing sector to simplify
complexities and enhance productivity. Industrial robots are being increasingly
used to simplify business activities including marketing, designing, selling,
building, installing, maintaining and operating.
An increased emphasis has been
laid on productivity index to sustain in the competitive environment of the
manufacturing sector and achieve quality results is expected to drive the
industrial robotics market. Increasing labor costs coupled with growing demand
from automotive industry is anticipated to be a key driving factor in the
industry.
Manual labor has eventually
replaced with self-programming robots owing to the job efficiency and
cost-effectiveness on account of their ability to sense environmental changes
through integration of sophisticated sensors. Growing measures concerning
safety rights of laborers are also expected to augment growth in the market.
Application of robots in
non-automotive industries namely chemicals, food & beverages, electronics,
and electricals have resulted in the development of new opportunities and
prospects over the past few years. Increasing installation costs and lack of
skilled labor are expected to pose a challenge for the companies.
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In 2013, automotive robots
contributed to the highest market share by volume. The market is projected to
gain prominence over the forecast period on account of technological
advancements and integration of artificial intelligence. Increasing demand from
heavy machinery and food processing industries are also expected to have a
positive impact on growth over the coming years.
Asia Pacific accounted for the
largest market in 2013 on account of substantial investments by organizations
to expand globally. Countries including Korea, Japan, and China have
experienced significant growth owing to supportive government programs
involving tax incentivisation, investments in skill management, and R&D
funding while Singapore, Taiwan, and India are anticipated to have a high
potential for growth.
Rising production capacities in
North America coupled with the modernization of factories are expected to
result in an increasing number of robotic installations. Significant investment
in robotics by automotive industry players in Europe is projected to augment
demand over the forecast period.
The industrial robotics market
encompasses numerous Japanese suppliers namely Denso, Motoman and Fanuc. Europe
comprises of specialized industrial robotics establishments including Kuka and
Comau along with prominent corporations including BAE and ABB Systems.
New entrants are expected to
emphasize on a particular application and find ways to diversify to cope with
high capital cost. Initiatives including “Blue Competence” sustainability
initiative by Anlagenbaue.V. (VDMA) and VerbandDeutscherMaschinen, which aims
at achieving environmental sustainability through technological modernization,
is expected to propel growth in the coming years.
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